Nigeria’s rig count to reach 50 by year-end, says NUPRC

From Adanna Nnamani, Abuja

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has projected that the country’s rig count will reach 50 before the end of 2025.

Speaking at the 2025 Nigeria International Energy Summit, the Commission Chief Executive (CCE), Engr. Gbenga Komolafe, stated that the country has made remarkable progress in hydrocarbon exploration and production, adding that the rig count has grown from just eight in 2021 to 40 in 2025.

Komolafe added that Nigeria’s crude oil production has surged by 70% from 1 million barrels per day (bpd) in 2021 to 1.75 million bpd in 2025, demonstrating the vibrancy of the sector under the commission’s policies.

He also said that crude oil reserves grew by 1.43% to 37.5 billion barrels, while gas reserves increased by 0.21% to 209.26 trillion cubic feet between 2023 and 2024.

The NUPRC boss said the commission aims to achieve 40 billion barrels of oil reserves and 220 trillion cubic feet of gas reserves through intensified exploration and licensing rounds.

Komolafe said, however, that despite the notable increase in production, the country’s full potential remains untapped.

According to him, while the country currently produces around 1.75 million bpd, its technical capacity stands at 2.24 million bpd, adding that the Commission is implementing measures to bridge this gap.

“Nigeria’s success in the upstream oil and gas sector is anchored on a predictable and enabling regulatory environment. Through regulatory excellence, collaboration, and visionary planning, NUPRC is poised to guide Nigeria towards a future defined by energy security, economic growth, and environmental responsibility. The journey ahead is promising, and with the sustenance of the right regulatory direction as being steered by the NUPRC, Nigeria’s upstream sector will continue to be a beacon of success on the global stage,” the CCE added.